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Prabhat Telecoms (India) announces cessation of director
Dec 28,2016

Prabhat Telecoms (India) announced that Atul Arvind Singh, Non-Executive Independent Director of the Company has resigned and Board of Directors at its Meeting held on 26 December 2016, has accepted his resignation and accordingly Atul Arvind Singh ceases to be Non-Executive Independent Director of the Company with effect from 26 December 2016.

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Saksoft surges on fund buying
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 91.68 points or 0.35% at 26,305.12.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 11,318 shares in the past one quarter. The stock had hit a high of Rs 315.90 and a low of Rs 287 so far during the day.

The stock had hit a record high of Rs 474.30 on 13 January 2016 and a 52-week low of Rs 152 on 22 November 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 56.24% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market in the past one quarter, surging 24.06% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 10.43 crore. Face value per share is Rs 10.

Saksofts consolidated net profit fell 1.06% to Rs 4.65 crore on 3.94% decline in net sales to Rs 61.43 crore in Q2 September 2016 over Q1 June 2016.

Saksoft is a provider of information management solutions to successful organizations around the world.

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Electrosteel Steels jumps on report Piramal Enterprises, Renaissance Group vie for stake
Dec 28,2016

Meanwhile, the BSE Sensex was up 88.39 points, or 0.34%, to 26,301.83.

On the BSE, so far 6.80 lakh shares were traded in the counter, compared with average daily volumes of 8.34 lakh shares in the past one quarter. The stock had hit a high of Rs 3.59 and a low of Rs 3.38 so far during the day.

The stock hit a 52-week high of Rs 4.50 on 27 January 2016. The stock hit a 52-week low of Rs 2.42 on 29 June 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 5.23% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.27% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 2409.24 crore. Face value per share is Rs 10.

According to a media report, the Ajay Piramal-led Piramal Enterprises and the Renaissance Group, an part of the Dalmia Group, are in the reckoning to jointly purchase a 51% stake in Electrosteel Steels.

While Piramal Enterprises is expected to invest Rs 1400 crore in Electosteel Steels through its private equity arm Piramal Capital, the Renaissance Group will manage the operations. The funds will be used to complete the expansion of the Bokaro plant and increase capacity by one million tonne to 2.5 mtpa, the report suggested.

Electrosteel Steels reported net loss of Rs 485.89 crore in Q2 September 2016 as against net loss of Rs 203.57 crore in Q2 September 2015. Net sales declined 2.6% to Rs 556.93 crore in Q2 September 2016 over Q2 September 2015.

Electrosteel Steels makes products like pig iron, billets, tmt bars, wire rods and ductile iron pipes. Electrosteel Steels is promoted by Electrosteel Castings which owns 45.23% of the equity.

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Parag Milk Foods advances after action from foreign funds
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 96.67 points or 0.37% at 26,310.11.

On the BSE, 7,121 shares were traded on the counter so far as against the average daily volumes of 74,132 shares in the past one quarter. The stock had hit a high of Rs 267 and a low of Rs 261.20 so far during the day.

The stock had hit a record high of Rs 356.70 on 13 July 2016 and a record low of Rs 202.10 on 24 May 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 3.71% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.66% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 84.11 crore. Face value per share is Rs 10.

Macquarie Emerging Markets Asian Trading Pte sold 19.83 lakh shares of the company at Rs 253.85 per share to New Horizon Opportunities Master Fund. Copthall Mauritius Investment offloaded 4.96 lakh shares at Rs 253 a piece to New Horizon Opportunities Master Fund.

Copthall Mauritius Investment held 1.83% and Macquarie Emerging Markets Asian Trading Pte owned 2.87% in Parag Milk Foods end September 2016.

On a consolidated basis, Parag Milk Foods net profit rose 47.7% to Rs 14.33 crore on 0.7% growth in net sales to Rs 472.84 crore in Q2 September 2016 over Q2 September 2015.

Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

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Bharat Financial Inclusion gains after Morgan Stanley hikes stake
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was down 120.59 points, or 0.46%, to 26,334.03.

On the BSE, so far 3.62 lakh shares were traded in the counter, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 548 and a low of Rs 531 so far during the day.

The stock hit a 52-week high of Rs 938.75 on 29 July 2016. The stock hit a 52-week low of Rs 435 on 21 January 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 23.74% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 39.94% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 137.93 crore. Face value per share is Rs 10.

Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company purchased 15.16 lakh shares, or 1.09% stake, in Bharat Financial Inclusion on Friday, 23 December 2016. Post acquisition, the total stake of Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company increased to 7.86% in Bharat Financial Inclusion.

Bharat Financial Inclusions net profit rose 87.4% to Rs 145.88 crore on 37.4% increase in operating income to Rs 411.37 crore in Q2 September 2016 over Q2 September 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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India targeting 3.5% of global trade by 2020 : Nirmala Sitharaman
Dec 28,2016

The country is targeting to achieve a share of 3.5% of the global trade by 2020 and there is a need to explore new markets for traditional industries and encourage new industries to penetrate the global markets, said, Nirmala Sitharaman, Minister of State for Commerce and Industry (Independent Charge). She was addressing the delegates at the 89th Annual General Meeting of FICCI.

In the context of increasing protectionism globally, she emphasized the importance of standards and accreditation for achieving the targeted share of global trade and also for preventing imports of sub-standard products in the country.

Sharing her Ministrys activities in the areas of standards, the Minister said that every year national and regional roadshows are organized to make the industry aware of the global standards and accreditation.

She also appreciated the role of service sector in exports and standardization. The share of service sector in Indias GDP has increased to 7.5% despite the severe challenges being faced by it.

R V Kanoria, Past President, FICCI, said that the world has become increasingly uncertain in the context of Brexit, referendum in Italy and other such events making it more challenging for India to bring in more investments and increasing trade.

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Board of Kuber Udyog approves merger of two companies with Kuber Udyog
Dec 28,2016

Kuber Udyog announced that the Board of Directors of the company at its meeting held on 20 December 2016 have subject to approval of various authorities, in principally decided to amalgamate Arunaya Organics and Chinmay Chemicals with the Company.

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Sunil Hitech Engg jumps on new order
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 37.62 points or 0.14% at 26,251.06.

On the BSE, 1.85 lakh shares were traded on the counter so far as against the average daily volumes of 8.05 lakh shares in the past one quarter. The stock opened with an upward gap surging by the maximum level of 5% and remained locked at that level at Rs 12.40 so far during the day.

The stock had hit a record high of Rs 23.43 on 20 October 2016 and a 52-week low of Rs 7.75 on 24 June 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 35.13% compared with the Sensexs 0.39% fall. The scrip had, however, underperformed the market in the past one quarter, declining 14.36% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 37.80 crore. Face value per share is Rs 1.

Sunil Hitech Engineers said it has been awarded an order worth Rs 434 crore in Arunachal Pradesh for National Highways & Infrastructure Development Corporation on engineering, procurement & construction (EPC) of road project. This project is in joint venture with PCL-Eagle Infra India.

Sunil Gutte, Managing Director of the company, commented that with the receipt of latest order, the company is continuing its strategy to diversify its order book which will improve its profitability. Its total order book on road segment is now about Rs 1352 crore comprising of 6 projects, in Bihar, Karnataka, West Bengal and Arunachal Pradesh. With these orders, company is having strong foothold in the road sector, he said.

Gutte added that the company proposes to bid for the projects worth Rs 6000 crore in the remaining period of this financial year. He further added that the company has boosted its order book in buildings sector which is surely going to be a major sector to contribute in the infrastructure development projects coming up in the country.

Sunil Hitech Engineers net profit rose 39.7% to Rs 14.84 crore on 19.6% growth in net sales to Rs 496.91 crore in Q2 September 2016 over Q2 September 2015.

Sunil Hitech Engineers is a well established player in EPC and construction of road, bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc, also in renewable sector.

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Yes Bank receives ratings for Green Infrastructure Bonds
Dec 28,2016

Yes Bank announced that it has received ratings of IND AA+ with a Stable Outlook from India Ratings and Research for Rs 330 crore of Green Infrastructure Bonds.

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Somany Ceramics redeems Commercial Paper worth Rs 15 cr
Dec 28,2016

Somany Ceramics announced that Commercial Paper of Rs. 15.00 crore issued on 28 October 2016 with maturity date of 27 December 2016 has been redeemed.

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TCS gains after Canadas VersaCold selects TAP cloud solution
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 72.70 points, or 0.28%, to 26,286.14.

On the BSE, so far 1,091 shares were traded in the counter, compared with average daily volumes of 1.14 lakh shares in the past one quarter. The stock had hit a high of Rs 2,338 and a low of Rs 2,325 so far during the day.

The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 Novembr 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 1.96% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, falling 4.19% as against Sensexs 7.35% decline.

The large-cap IT major has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency.

On a consolidated basis, TCS reported a 4.51% growth in its net profit at Rs 6603 crore on 0.07% decline in net sales to Rs 29284 crore in Q2 September 2016 over Q1 June 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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M-wallet retail spends may see fourfold jump in near term: Study
Dec 28,2016

Post-demonetisation, the average wallet spend for retail has witnessed a huge jump and is expected to increase from Rs 500-700 prior to Rs 2,000-10,000 in the near term, according to the just concluded joint study by ASSOCHAM and RNCOS.

n++The mobile wallet market in India has been greatly benefited by demonetisation and its share in the total mobile payment volume transactions is likely to rise from 20 per cent in FY16 to 57 per cent by FY22,n++ according to the study titled M-wallet: Scenario post-demonetisation, jointly conducted by ASSOCHAM and business consulting firm RNCOS.

n++The government has hinted of not remonetising all of the scrapped currency and aims to fill the gap by promoting digital/cashless payment mode, this is bound to further boost prospects for m-wallet sector in India,n++ said Mr D.S. Rawat along with Mr Shushmul Maheshwari, CEO & founder, RNCOS and Mr Babu Lal Jain, chairman of the ASSOCHAM National Council on Cyber & Network Security.

M-wallet transactions in India are likely to grow at a compounded annual growth rate (CAGR) of over 160 per cent to rise from just over half a billion in FY16 to 260 billion by FY22 driven by growing usage of smartphones, robust mobile internet penetration, growth of e-commerce sector together with increasing disposable incomes.

While in value terms, the m-wallet transactions in India have grown about 20 times to reach Rs 206 billion in FY16 from Rs 10 billion in FY13, highlighted the study.

n++It is anticipated that market value of m-wallet transactions in India will grow at a CAGR of over 200 per cent to reach Rs 275 trillion by FY22 from Rs 206 billion in FY16,n++ it noted.

Thus, taking over traditional payment modes, the m-wallet market in India which was estimated at about Rs 1.5 billion in FY16 will grow at over 190 per cent to reach Rs 1,512 billion by FY22.

The study also highlighted that post demonetisation, the mobile payment transaction volume in India is likely to grow at a CAGR of over 130 per cent to reach 460 billion by FY22 from just about three billion in FY16, the study noted.

While mobile payment transactions in value terms are likely to cross Rs 2,200 trillion mark by FY22 from just over Rs 8 trillion in FY16 thereby clocking a CAGR of 150 per cent.

It also highlighted that share of mobile banking segment in mobile payment market is likely to register significant increase from eight per cent in FY14 to 56 per cent in FY17.

Issues & solutions:

The study however said that it is a challenge for the sector to bring copious number of shoppers preferring cash on delivery (COD) and other modes of payment on m-wallet platform. However, with the ease of payment along with other benefits offered by m-wallets, users preferring COD will switch to the m-payment platform in the coming years as it has a significant potential to grow, and expand its user base as we go ahead.

With a view to win customers trust, companies operating in the mobile-wallet sector should take measures like providing effective, completely secure, private and reliable services, 3-D or OTP (one time password) security options, data back-up system and others to spread awareness among people.

Crystal clear policies and a common regulatory body for all m-wallets (closed, semi-closed and others) are required to bring clarity in procedures and policies between m-wallet companies and the Reserve Bank of India (RBI).

n++A strong authentication mechanism must be put in place to bind the identity of the user to the authorization of the transaction thereby being extremely mindful of authentication and risk assessment,n++ suggested the ASSOCHAM-RNCOS joint study.

As the mobile payment space evolves, the stakeholders must create secure transactions that foster consumer trust, besides, m-wallet companies must provide a much more secure payment authentication process out to the masses.

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Marginal gains for US stocks in thinly traded session
Dec 28,2016

U.S. stocks rose in a thinly traded session on Tuesday, 26 December 2016 with the Nasdaq hitting its latest in a series of records as the markets recent upward bias continued, helped by a gain in technology shares. Overall, stocks saw a broad but slight advance, with all but two of the S&P 500s 11 primary sectors higher on the day. Retail stocks were in focus as investors looked to the first reads on the strength of the holiday shopping season.

The Dow Jones Industrial Average rose 0.1%, or 11.23 points, to end at 19,945.04, while the S&P 500 advanced 5.09 points, or 0.2%, to 2,268.88 and the Nasdaq Composite Index added 24.75 points to settle at 5,487.44, a gain of 0.5%.

Nine of eleven sectors finished the day in positive territory with technology underpinning things from the start. The top-weighted group rallied behind Apple and high-beta chipmakers. NVIDIA soared 6.9%, extending its 2016 gain to 256.0%.

The final trading week of the year is typically a quiet one, with light trading and few planned news eventsn++such as central bank announcements or corporate earningsn++to dictate market direction. Many traders were out of the office following the Christmas holiday, for which the equity market was closed on Monday, while others are waiting for the new year to make big portfolio changes.

The bulk of todays action took place during the opening minutes as the key indices charged to session highs. The opening rally was followed by a slow intraday drip from those highs. The Dow surrendered the bulk of its early gain while the S&P 500 and Nasdaq spent the afternoon near the middle of their respective ranges.

In the latest economic data, the S&P Case-Shiller index of home prices climbed 0.6% in October and was up 5.1% in the past year, unchanged from the prior month. Consumer confidence in December jumped to 113.7 from a revised 109.4 in November, hitting its highest level since 2001.

Among Tuesdays biggest movers, retailers Amazon.com and Wal-Mart Stores were in focus amid postholiday Christmas shopping as the first.

Bullion prices ended higher at Comex on Tuesday, 26 December 2016. Gold prices closed at just over one-week highs on Tuesday, recovering after ending with a seventh straight weekly decline before the holiday weekend, their longest such losing streak in more than 12 years.

Gold futures for February delivery finished up $5.10, or 0.5%, at $1,138.70 an ounce in light volume. Gold firmed even as the dollar advanced modestly, defying their typically inverse relationship. March silver was up 24 cents, or 1.5%, at $16.00 an ounce. Last week, the metal slid 2.4%, for its second week of losses.

Crude futures continued their end-of-year rally on Tuesday, 26 December 2016 taking oil to its highest finish since July 2015 on expectations that global oil producers will honor a landmark agreement to reduce supply.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February advanced 88 cents, or 1.7%, to finish at $53.90 a barrel. February Brent crude on Londons ICE Futures exchange rose 93 cents, or 1.7%, to close at $56.09 a barrel.

Treasuries slipped in morning action and spent the afternoon near their lows. The 10-yr yield rose two basis points to 2.56%.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while November Pending Home Sales will be reported at 10:00 ET.

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TCS in focus after securing contract from a Canada firm
Dec 28,2016

TCS announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency. The announcement was made after market hours yesterday, 27 December 2016.

Akzo Nobel India announced that it has inaugurated a first-of-its-kind specialty coatings production facility and colour laboratory in Noida, Uttar Pradesh, to service its customers in the consumer electronics, automobile and cosmetics industry. The announcement was made after market hours yesterday, 27 December 2016.

With an investment of Euro 0.4 million or Rs 3 crore, the new site will manufacture 600 kilolitre of coatings annually, thus catering to the localisation drive undertake by many large companies. Already commissioned, the facility is in its first phase, the second phase is likely to be completed by the end of 2016, with scope for further expansion.

Asian Oilfield Services announced that it proposes to convene a meeting of the board of directors on 30 December 2016, inter alia, to consider and approve the allotment of warrants, subject to receipt of application money from the proposed allottee. The announcement was made after market hours yesterday, 27 December 2016.

Dhanuka Agritech announced that a meeting of buyback committee of board of directors of the company will be held on 3 January 2017, inter-alia, to approve the final terms and conditions of buyback of equity shares of the company, subject to shareholders approval. The outcome of the postal ballot being conducted, to seek such shareholders approval, will also be announced on 2 January 2017. The announcement was made after market hours yesterday, 27 December 2016.

Sunil Hitech Engineers announced that it has secured a road engineering, procurement & construction (EPC) project worth Rs 434 crore in Arunachal Pradesh. The announcement was made after market hours yesterday, 27 December 2016.

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Quick Heal Technologies allots equity shares
Dec 27,2016

Quick Heal Technologies has allotted 27853 Equity Shares under ESOP on 27 December 2016.

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